AUD/NZD has extended its rally beyond the September highs, signaling renewed bullish momentum. The pair is approaching the 1.1490/1.1520 zone near the 2022 peak, where upside momentum may begin to fade. While the move looks stretched, no clear reversal signals have emerged yet, with 1.1300 marking a key support level, Société Générale's FX analysts note.

Upward momentum in AUD/NZD builds, eyes 1.15 zone

"AUD/NZD has crossed the September highs after a brief pause, highlighting a resurgence of upward momentum. The move appears somewhat stretched; however, clear signals of a meaningful pullback are not yet visible."

"The pair is inching towards the 2022 peak and projections of 1.1490/1.1520, which could serve as an interim hurdle. If the upward move stalls around this zone, a short-term consolidation cannot be ruled out. The recent pivot low of 1.1300 is an important support."